JAKARTA, Dec. 14 (Xinhua) -- The International Finance Corporation (IFC), a subsidiary of the World Bank, on Monday said that the speed of reforms implementation is more important than rank in attracting investment.
Sandra Pranoto, the IFC's Associate Operations Officers of Business Enabling Environment told the press that cities with less attraction this year could increase their appeal before investors by implementing effective reforms.
She said that in Mexico, nine of 12 states compared by the agency in 2006 and 2007 had conducted at least one reform to increase facility to do business.
She said the report showed that several cities were more efficient compared to others.
"From the differences, we could gain examples praised practices that were proved to be able to be implemented in the country and they could be implemented to other countries to increase competitiveness," she said.
Sandra took other examples of India and the Philippines.
"In India, the Doing Business 2009 showed that nine of 10 surveyed states for the second time had conducted reforms," she said, adding that the period to establish a business unit had shortened to 35 days from 45 days and time to get license for building construction decreased to 25 days on average.
In the Philippines, after Doing Business 2008 was launched, 13 mayors and several central government institutions signed a memorandum consisted of an agreement to improve business registration rules and business permit in order to simplify, accelerate and reduce costs and to adjust the processes with common standards.
"In short, we hope that the government could take advantages as much as they could by evaluating the comparison between cities in the world and they could learn each other," she said.
The agency will launch its Doing Business 2010 in Indonesia on Tuesday.